Correlation Between Accelerate Canadian and CI Canadian
Can any of the company-specific risk be diversified away by investing in both Accelerate Canadian and CI Canadian at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Accelerate Canadian and CI Canadian into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Accelerate Canadian Long and CI Canadian REIT, you can compare the effects of market volatilities on Accelerate Canadian and CI Canadian and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Accelerate Canadian with a short position of CI Canadian. Check out your portfolio center. Please also check ongoing floating volatility patterns of Accelerate Canadian and CI Canadian.
Diversification Opportunities for Accelerate Canadian and CI Canadian
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Accelerate and RIT is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Accelerate Canadian Long and CI Canadian REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Canadian REIT and Accelerate Canadian is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Accelerate Canadian Long are associated (or correlated) with CI Canadian. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Canadian REIT has no effect on the direction of Accelerate Canadian i.e., Accelerate Canadian and CI Canadian go up and down completely randomly.
Pair Corralation between Accelerate Canadian and CI Canadian
Assuming the 90 days trading horizon Accelerate Canadian Long is expected to generate 2.08 times more return on investment than CI Canadian. However, Accelerate Canadian is 2.08 times more volatile than CI Canadian REIT. It trades about 0.12 of its potential returns per unit of risk. CI Canadian REIT is currently generating about 0.17 per unit of risk. If you would invest 3,629 in Accelerate Canadian Long on November 17, 2025 and sell it today you would earn a total of 363.00 from holding Accelerate Canadian Long or generate 10.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Accelerate Canadian Long vs. CI Canadian REIT
Performance |
| Timeline |
| Accelerate Canadian Long |
| CI Canadian REIT |
Accelerate Canadian and CI Canadian Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Accelerate Canadian and CI Canadian
The main advantage of trading using opposite Accelerate Canadian and CI Canadian positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Accelerate Canadian position performs unexpectedly, CI Canadian can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in CI Canadian will offset losses from the drop in CI Canadian's long position.| Accelerate Canadian vs. Purpose Conservative Income | Accelerate Canadian vs. Evolve European Banks | Accelerate Canadian vs. BetaPro SPTSX Capped | Accelerate Canadian vs. First Trust Indxx |
| CI Canadian vs. iShares SPTSX Canadian | CI Canadian vs. TD Q Canadian | CI Canadian vs. Fidelity International Value | CI Canadian vs. Harvest Healthcare Leaders |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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